Russian oil product exports plunge to lowest levels since 2022, Bloomberg reports

According to the outlet, data from Vortexa Ltd. show that the total volume of Russian oil product shipments by sea in the first 26 days of October averaged 1.89 million barrels per day, the lowest level at least since early 2022.

Bloomberg noted that although diesel exports slightly increased, overall shipments fell due to weak deliveries of oil products and fuel oil, especially through Baltic ports following attacks on the export terminal in Ust-Luga. In addition, adverse weather conditions in the region in recent days may have affected port operations.

Breakdown of oil product exports:

• Diesel and gasoil: shipments rose 2% compared with the previous month, reaching 740,000 barrels per day, supported by higher deliveries via the Black Sea, offsetting weaker shipments from Primorsk.

• Oil: shipments fell 3% compared with September, to 317,000 barrels per day. Flows remain limited after attacks on Ust-Luga, which handles over 60% of Russian oil exports.

• Fuel oil: shipments dropped 10% to 710,000 barrels per day, the lowest in three months.

• Processing feedstock (vacuum gasoil): shipments increased 6% to 70,000 barrels per day.

• Gasoline and blending components: shipments remained around 13,000 barrels per day.

• Aviation fuel: shipments rose to 44,000 barrels per day.

Journalists also reported that shipments of Russian crude oil declined after reaching two-and-a-half-year highs, with a reduction in the number of sailings from Baltic ports last week.

Strikes on refineries

Ukrainian defenders have carried out a series of attacks on Russian oil refineries using long-range drones, triggering a fuel crisis in Russia.

One example is the Ilsky refinery, which halted part of its production due to scheduled maintenance. In early September, Ukrainian forces struck the facility.

Amid the attacks, Russian authorities decided to impose a complete ban on fuel exports. At the same time, the strikes forced Russia to increase crude oil exports, as refinery processing was disrupted by damage to the plants.

Last week, the United States also announced new sanctions against Russia, targeting Rosneft and Lukoil. According to Western media, Indian refineries have already begun reducing imports of Russian crude in response to these restrictions.